RTTNews - Australian house prices rose 3.3% in June quarter, which was the strongest quarterly increase since December 2007, the latest report from the Australian Property Monitors showed Thursday.
In Sydney, median house prices rose 3.7% in the June quarter. This was the first quarter of median price growth for Sydney since December 2007. Meanwhile, Melbourne reported 5.8% rise and Brisbane revealed 1.7% increase. Only Perth reported decline in the second quarter, which fell 0.8%. Remaining the strongest overall market in the country, house prices in Darwin rose 11.2%.
Matthew Bell, Economist for Australian Property Monitors said, The consolidation that began in the March 2009 quarter has now transformed into strong growth across the country.
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